[Federal Register Volume 82, Number 224 (Wednesday, November 22, 2017)]
[Notices]
[Pages 55591-55592]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-25304]


-----------------------------------------------------------------------

COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities: Notice of Intent To 
Renew Collection 3038-0026, Gross Collection of Exchange-Set Margins 
for Omnibus Accounts

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Commodity Futures Trading Commission (CFTC) is announcing 
an opportunity for public comment on the proposed renewal of a 
collection of certain information by the agency. Under the Paperwork 
Reduction Act of 1995 (PRA), Federal agencies are required to publish 
notice in the Federal Register concerning each proposed collection of 
information, including each proposed extension of an existing 
collection of information, and to allow 60 days for public comment. 
This notice solicits comments on requirements relating to Gross 
Collection of Exchange-Set Margins for Omnibus Accounts.

DATES: Comments must be submitted on or before January 22, 2018.

ADDRESSES: You may submit comments, identified by OMB Control Number 
3038-0026, by any of the following methods:
     The Agency's Web site, at http://comments.cftc.gov/. 
Follow the instructions for submitting comments through the Web site.
     Mail: Christopher Kirkpatrick, Secretary of the 
Commission, Commodity Futures Trading Commission, Three Lafayette 
Centre, 1155 21st Street NW., Washington, DC 20581.
     Hand Delivery/Courier: Same as Mail above.
     Federal eRulemaking Portal: http://www.regulations.gov/. 
Follow the instructions for submitting comments through the Portal.
    Please submit your comments using only one method.

FOR FURTHER INFORMATION CONTACT: Mark Bretscher, Division of Swap 
Dealer and Intermediary Oversight, Commodity Futures Trading 
Commission, (312) 596-0529; email: [email protected].

SUPPLEMENTARY INFORMATION: Under the PRA,\1\ Federal agencies must 
obtain approval from the Office of Management and Budget (OMB) for each 
collection of information they conduct or sponsor. ``Collection of 
information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) and 
includes agency requests or requirements that members of the public 
submit reports, keep records, or provide information to a third party. 
Section 3506(c)(2)(A) of the PRA, 44 U.S.C. 3506(c)(2)(A), requires 
Federal agencies to provide a 60-day notice in the Federal Register 
concerning each proposed collection of information, including each 
proposed extension of an existing collection of information,

[[Page 55592]]

before submitting the collection to OMB for approval. An agency may not 
conduct or sponsor, and a person is not required to respond to, a 
collection of information unless it displays a currently valid OMB 
number. To comply with this requirement, the CFTC is publishing notice 
of the proposed collection of information listed below.
---------------------------------------------------------------------------

    \1\ 44 U.S.C. 3501 et seq.
---------------------------------------------------------------------------

    Title: Gross Collection of Exchange-Set Margins for Omnibus 
Accounts, OMB Control Number 3038-0026. This is a request for extension 
of a currently approved information collection.
    Abstract: Commission Regulation 1.58 requires that FCMs margin 
omnibus accounts on a gross, rather than a net, basis. The regulation 
provides that the carrying FCM need not collect margin for positions 
traded by a person through an omnibus account in excess of the amount 
that would be required if the same person, instead of trading through 
an omnibus account, maintained its own account with the carrying FCM. 
To prevent abuse of this exception to the regulation, a carrying FCM 
must obtain and maintain a written representation from the originating 
FCM or foreign broker that the particular positions held in the omnibus 
account are part of a hedge or spread transaction. This collection of 
information is necessary in order to provide documentation that can be 
inspected with regard to questions of proper compliance with gross 
margining requirements. This rule is promulgated pursuant to the 
Commission's rulemaking authority contained in Sections 4c, 4d, 4f, 4g 
and 8a of the Commodity Exchange Act, 7 U.S.C. 6c, 6d, 6f, 6g and 12a.
    With respect to the collection of information, the CFTC invites 
comments on:
     Whether the proposed collection of information is 
necessary for the proper performance of the functions of the 
Commission, including whether the information will have a practical 
use;
     The accuracy of the Commission's estimate of the burden of 
the proposed collection of information, including the validity of the 
methodology and assumptions used;
     Ways to enhance the quality, usefulness, and clarity of 
the information to be collected; and
     Ways to minimize the burden of collection of information 
on those who are to respond, including through the use of appropriate 
automated electronic, mechanical, or other technological collection 
techniques or other forms of information technology; e.g., permitting 
electronic submission of responses.
    All comments must be submitted in English, or if not, accompanied 
by an English translation. Comments will be posted as received to 
http://www.cftc.gov. You should submit only information that you wish 
to make available publically. If you wish the Commission to consider 
information that you believe is exempt from disclosure under the 
Freedom of Information Act, a petition for confidential treatment of 
the exempt information may be submitted according to the procedures 
established in Section 145.9 of the Commissions regulations.\2\
---------------------------------------------------------------------------

    \2\ 17 CFR 145.9.
---------------------------------------------------------------------------

    The Commission reserves the right, but shall have no obligation, to 
review, pre-screen, filter, redact, refuse or remove any or all of your 
submission from http://www.cftc.gov that it any deem to be 
inappropriate for publication, such as obscene language. All 
submissions that have been redacted or removed that contain comments on 
the merits of the Information Collection Request will be retained in 
the public comment file and will be considered as required under the 
Administrative Procedure Act and other applicable laws, and may be 
accessible under the Freedom of Information Act.
    Burden Statement: The Commission is revising its estimate of the 
burden due to the reduced number of futures commission merchants in the 
industry. The respondent burden for this collection is estimated to be 
as follows:
     Estimated number of respondents: 57.
     Reports annually by each respondent: 4.
     Total annual responses: 228.
     Estimated average number of hours per response: 0.08.
     Estimated Total Annual Burden Hours: 18.
     Frequency of Collection: On occasion.
    There are no capital costs or operating and maintenance costs 
associated with this collection.

    Authority: 44 U.S.C. 3501 et seq.

    Dated: November 17, 2017.
Robert N. Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2017-25304 Filed 11-21-17; 8:45 am]
 BILLING CODE 6351-01-P